Dubai banking group Emirates NBD plans more success out of Africa

Shayne Nelson, CEO, Emirates NBD

Emboldened by the bank’s success in Egypt, the chief executive of Emirates NBD is eyeing further expansion into Africa.

Shayne Nelson, the Australian banker who took the helm of Dubai’s biggest bank almost three years ago, is mostly looking at countries such as Kenya, Tanzania, Morocco and Algeria but is not averse to beefing up its business in Egypt through additional acquisitions.

India, where the bank has a representative office, is another area of growth potential and Iran could become interesting when sanctions are removed, Mr Nelson says.

“We are actively looking at opportunities but we have very strict investment criteria as to what would we would see as acceptable.”

Read more: Emirates NBD plans more success out of Africa | The National